Money Diary: A Project Officer On £36,550

Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last penny.

This week: "I’m a 30 year-old project officer in the Civil Service living and working in Manchester. I moved here for university and have never looked back. Last year, I got a promotion which enabled me to move into a one-bed flat by myself, which has been a long-held goal after many years of house-shares. This move has been so good for my mental health as I’m a true introvert and I love having my own space. I’m still figuring out my budgeting and how much I can comfortably spend each month since the move, especially as my rent has more than doubled! Z is my long-term boyfriend of six years, but we have never lived together as it was very important to me to have the opportunity to live by myself and manage my own space and finances before settling down. I’m naturally more of a saver than a spender and when I do spend it tends to be on experiences, such as holidays or meals out, rather than clothes or objects. At the moment I’m building up my holiday funds again after a big trip last year."

Occupation: Project officer
Industry: Civil service
Age: 30
Location: Manchester
Salary: £36,550
Paycheque Amount: £2,200
Number of housemates: 0
Pronouns: She/her

Housing costs: £800 rent.
Loan payments: £77 postgraduate loan, £69 student loan.
Savings?: £19,300 in a LISA (I add £330 to this each month), £2,100 in an easy access account, £6,100 in ISA and bonds, and £500 holiday fund. I also have a round-up pot in Monzo that is currently at £128.
Pension?: Yes, I contribute 5.45% and my employer contributes 27.1%. I also have some old pensions floating about from previous jobs that I need to track down at some point.
Utilities: £24 internet, £20 water, £102 electricity, £111 council tax.
All other monthly payments: £21.28 union membership, £7 phone, £5 Cats Protection lottery. Subscriptions: £7.50 Spotify.

Did you participate in any form of higher education? If yes, how did you pay for it? Yes, I did an undergraduate and postgraduate degree. For my undergraduate, I was only entitled to the minimum loan amount which I used to pay my fees and rent. My parents kindly sent me money to cover food etc, I think this was approx. £100 a month in my first year and less in subsequent years. From my second year onwards, I had part-time jobs to fund my nights out and holidays. For my postgraduate degree, I got another student loan which I somewhat regret as the loan repayments are much higher. I paid for my accommodation and living costs during this degree by working at a call centre over the summer and bar work.

Growing up, what kind of conversations did you have about money?
My family were comfortably middle class I would say. We often went on holidays abroad and there was never any worry about affording things we needed. However, there were also plenty of things that felt out of reach. My dad was made redundant during the recession so there were a few years when things felt tighter but my parents mostly shielded us from this. I think they did a good job of educating me and my brother about finances, my dad in particular always talked about the importance of saving and taught me about different kinds of saving accounts and the benefits of each.

If you have, when did you move out of your parents/guardians house?
I moved out to go to uni at 18. However, for a few years after this I went home regularly for a few months at a time during summer holidays. I fully moved out when I started my master's degree at 23.

At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I have been covering all of my rent and bills since I started working full-time at 24.

What was your first job and why did you get it?
A waitress and kitchen help in a local cricket club aged 16. A big motivation for getting the job was having money that was completely mine and that I could spend however I wanted. I think I saved most of it to buy my first laptop.

Do you worry about money now?
Yes and no. My rent is a large proportion of my monthly wage and I’m very aware that if I lost my job it would quickly eat into my savings, which is why I try to keep a decent amount in an easy access account. However, I’m also conscious that I have savings and in general I’m very sensible with my money. I would like to buy a house in the not too distant future so I do sometimes worry about the affordability of that, especially as house prices just keep going up in Manchester.

Do you or have you ever received passive or inherited income?
I have not, aside from the money my parents sent me for food during my degree.